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Friday, May 29, 2020

IFB announces partial Management Buy Out

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Aberdeen-based connectivity, security and data management solutions firm IFB recently achieved a partial management buyout from its founder and Chairman, John Michie, resulting in a restructuring of share ownership.

This restructure sees an investment in the business from IFB’s Graeme Gordon, CEO and Jane Stewart, Non-Executive Director as well as the creation of an employee share ownership scheme, enabling all employees to share in continued growth and success of IFB through actively engaging as owners in the company’s strategic plan.

John Michie said: “Employee share ownership has always been part of my long-term vision for IFB and I believe now is the right time for the company, its leadership team and employees to move forward as owners, given IFB’s strong market position and ambitious plans for growth.”

Committed to maximising and supporting its customers’ uptime, IFB’s creation of an employee share ownership scheme is another key milestone in its growth strategy, following several recent appointments to strengthen the leadership team.

George Gordon joined IFB as Chief Operations Officer in September 2018 and said: “As someone relatively new to the business, I am delighted with the announcement of the employee ownership scheme. My decision to join IFB was based on the business’ strong and consistent position during difficult trading periods and I see great growth potential. This further cements IFB’s commitment to the team here and the services we deliver to our customers.”  

The employee share ownership scheme reinforces IFB’s strong corporate culture, providing all employees with the opportunity to be more closely associated with and aligned to the company’s future developments and performance.

Graeme Gordon, CEO commented: “This is a strong, positive move for IFB and all our stakeholders. We believe the new ownership structure creates a fantastic opportunity as one team to accelerate our strategic plans.”

Graeme added: “IFB has created innovative and world class digital infrastructure, designing and delivering digital services globally for some of the world’s largest businesses. The confidence to do so comes from the strong team foundation we have at IFB and we’d like to thank our Chairman for his support and hard work over many years  getting IFB to this stage in our growth. We are collectively excited for IFB’s continued success with a motivated team having a greater voice and an essential role in shaping the future for IFB, as we continue to innovate and disrupt in our core markets.”

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